WASHINGTON — Rising rates on the Dulles Toll Road have worried many drivers who travel along that stretch, but a plan that is currently being finalized would help keep those tolls rates down, while simultaneously funding a big transportation project.
“This is very important because I’m trying to keep the toll rates flat,” Virginia Gov. Terry McAuliffe said on WTOP’s Ask the Governor program Wednesday. “I don’t like to see these gigantic increases.”
Rates on the Dulles Toll Road have gone up for five consecutive years.
Officials in Northern Virginia are asking for a $1.9 billion federal package through the Transportation Infrastructure Finance and Innovation Act (TIFIA). If approved, the loan could partially fund Metro’s upcoming Silver Line expansion.
“It’s the largest TIFIA loan done in the history of the country and we’re very excited,” McAauliffe said.
Although the Silver Line is not yet up and running, it will eventually service passengers at Dulles Airport and beyond, requiring a large expansion in the coming years.
According to McAauliffe, a portion of money for that extension could come from the TIFIA package instead of additional toll hikes.
“It is going to be spectacular to help us do what we need to do,” he said.
Other proposed funding sources for the Silver Line expansion project include a new property tax in certain jurisdictions and financing from state government, according to the Loudoun Times.
Read more about the transportation projects McAuliffe discussed during the Ask the Governor program and to hear the full audio on WTOP.com.